Form 5500 Updates
Rev. 08/31/06, E-mail Alert 2006-18

DOL Changes to the Form 5500

• Mandatory electronic filing will be required starting with the 2008 plan year
  
• The DOL will be revising Form 5500 to streamline it for electronic filing
  Proposals for changes to the Form are being accepted by the DOL at this time
  Written comments must be received by the Department of Labor on or before September 19, 2006
  
• Schedule P:
  Eliminated from Form 5500-EZ as of the 2005 plan year
  Eliminated from Form 5500 as of the 2006 plan year

Pension Protection Act of 2006 Form 5500 changes:

• A simpler Form 5500 for plans with less than 25 participants for use in the 2007 and later plan years
  
• The Form 5500-EZ filing threshold is increased from $100,000 to $250,000, effective for the 2007 plan year
  
• Form 5500 is to be electronically posted within 90 days of the DOL’s receipt, starting with the 2008 plan year